Brokerages Set EchoStar Corporation (NASDAQ:SATS) PT at $75.20

EchoStar Corporation (NASDAQ:SATS) has been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $75.20.

A number of brokerages recently weighed in on SATS. TD Cowen boosted their price objective on EchoStar from $28.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Citigroup lifted their price target on EchoStar from $67.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Cowen restated a “buy” rating on shares of EchoStar in a report on Wednesday, August 27th. Morgan Stanley upped their price objective on EchoStar from $59.00 to $91.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft set a $105.00 target price on shares of EchoStar in a research report on Tuesday, September 9th.

Insider Buying and Selling at EchoStar

In other EchoStar news, COO John Swieringa sold 154,835 shares of EchoStar stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $81.20, for a total transaction of $12,572,602.00. Following the transaction, the chief operating officer directly owned 432 shares of the company’s stock, valued at approximately $35,078.40. The trade was a 99.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Paul Gaske sold 45,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $80.25, for a total value of $3,611,250.00. Following the completion of the sale, the chief operating officer owned 1,593 shares in the company, valued at $127,838.25. This trade represents a 96.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 460,740 shares of company stock worth $35,967,480 in the last three months. 55.90% of the stock is currently owned by company insiders.

Institutional Trading of EchoStar

Institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans lifted its holdings in EchoStar by 11.5% in the second quarter. Thrivent Financial for Lutherans now owns 31,594 shares of the communications equipment provider’s stock valued at $875,000 after buying an additional 3,266 shares during the period. Marex Group plc acquired a new stake in EchoStar during the 2nd quarter worth about $947,000. CANADA LIFE ASSURANCE Co raised its position in shares of EchoStar by 5.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 103,871 shares of the communications equipment provider’s stock worth $2,878,000 after acquiring an additional 5,339 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of EchoStar by 23.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,815 shares of the communications equipment provider’s stock valued at $410,000 after purchasing an additional 2,850 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of EchoStar by 7.1% during the 2nd quarter. Captrust Financial Advisors now owns 14,839 shares of the communications equipment provider’s stock valued at $411,000 after purchasing an additional 978 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $73.65 on Friday. The company has a market cap of $21.19 billion, a price-to-earnings ratio of -70.14 and a beta of 0.99. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.15. The firm has a 50 day simple moving average of $49.21 and a 200 day simple moving average of $32.68. EchoStar has a one year low of $14.90 and a one year high of $85.37.

EchoStar (NASDAQ:SATS) last posted its earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.06. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the previous year, the firm posted ($0.76) earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. Research analysts predict that EchoStar will post -1.99 earnings per share for the current fiscal year.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.